Fisher Asset Management LLC Increases Position in Fluor Corporation $FLR

Fisher Asset Management LLC boosted its holdings in shares of Fluor Corporation (NYSE:FLR) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 463,162 shares of the construction company’s stock after acquiring an additional 25,998 shares during the period. Fisher Asset Management LLC owned 0.29% of Fluor worth $18,355,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC grew its stake in shares of Fluor by 91.7% in the 4th quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock valued at $26,000 after buying an additional 311 shares during the period. Assetmark Inc. grew its stake in shares of Fluor by 249.0% in the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after buying an additional 483 shares during the period. Larson Financial Group LLC grew its stake in shares of Fluor by 6,116.7% in the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after buying an additional 734 shares during the period. Banque Transatlantique SA grew its stake in shares of Fluor by 312.5% in the 2nd quarter. Banque Transatlantique SA now owns 825 shares of the construction company’s stock valued at $43,000 after buying an additional 625 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Fluor in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

FLR has been the subject of several analyst reports. Robert W. Baird increased their price target on shares of Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Fluor from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. DA Davidson increased their price target on shares of Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Zacks Research cut shares of Fluor from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Truist Financial reissued a “buy” rating and issued a $57.00 price target (down from $59.00) on shares of Fluor in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.33.

Fluor Stock Performance

Shares of FLR stock opened at $47.32 on Thursday. The firm’s 50 day moving average price is $47.31 and its 200-day moving average price is $45.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. Fluor Corporation has a one year low of $37.62 and a one year high of $57.50. The firm has a market cap of $6.61 billion, a P/E ratio of 27.51, a P/E/G ratio of 1.45 and a beta of 1.33.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.52). The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 earnings per share. As a group, equities research analysts predict that Fluor Corporation will post 2.69 EPS for the current year.

About Fluor

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.